危机就是转机!!
The Chinese use two brush strokes to write the word "Crisis". One brush stroke stands for Danger, the other for Opportunity. In a Crisis, be aware of the Danger but recognise the Opportunity. - Former US President Richard Nixon

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Friday, November 19, 2010

Wall Street rallied in overnight trade as
"Stocks jumped on Thursday on expectations
of a resolution of Ireland's banking crisis, but
the S&P 500's inability to break through resistance
suggests stocks could be in a tight range through
the end of the year." Dow surged 173 points,
S&P 500 added 18 points and Nasdaq gained 38 points.

After 2 days of trading, we got a holiday break
and after another 2 days of trading, we will have a
weekend break again. This is a pretty quiet trading
week for me as my trading activities are at a low.
If you think I can have my revenge today as US indexes
surged, then think again. Stocks will started off nicely
but I don't believe the strength can last till the closing bell.

Genting breached the 2.04 support line briefly yesterday
before staging a rebound and closed above at 2.05
It will have 2.04 as support again and failing so will
be facing the next support at below $2, that is 1.97
The nearest resistance is at 2.10 and the major resistance
will be at 2.18 It is likely Genting will surge today
but the strength may not be enough.

I have to say that the plantation stocks have a high chance
of staging a comeback as from the chart and sentiment,
they are still a good trading potential with their strength intact.
Take note that today is not the day to show-hand as
I foresee a much weaker closing. I may be wrong but
that is how I see.

Enter any position with a Cut-loss level & Trailing Stop,
and Please practice strict (Risk)Money-management.
If you don't like what you see in the market,
simply don't trade.

Thursday, November 18, 2010

After a short holiday break and it was a
prompt one in my opinion but anyhow,
we are back in trading again.

Wall Street closed mixed in what was a
choppy session as "Investors were unable to
recoup recent losses in the market on Wednesday,
suggesting the struggles recently experienced by
stocks are far from over.
A late-day selloff did not inspire confidence.
Volume was light and early buying faded, as financials
led the market downward. The S&P 500 is down nearly
4 percent since November 5 after rallying nearly 13
percent in September and October."
Dow lost 16 points, S&P 500 edged up 0.25 point
and Nasdaq advanced 6 points.

It was a somewhat boring session on Tuesday
and many stocks are having a hard time with
the rampant profit-taking, but it was nevertheless
a much-need and welcome one in my view.
If you are asking when will the selling stops and
how deep the selling will be, then I have to take
a back seat and allow Mr Market to show me the
clear path. From what I see from chart and sentiment
the selling is not over yet, and it may worsen and
continue for some time.

A few Skype readers asked me whether they can
enter the market on Tuesday afternoon, I told them
only 2 words "Don't Touch" which can be verify by
the readers if they choose to comment on it.
Stocks are likely to play "catch-down" today, and
we are expected to open lower but closing firmer.

Genting closed at the 2.10 support/resistance level
as what I mentioned 2 days ago. Which side of
2.04 and 2.18 will it go? I believe the possibility
of further downside certainly outweigh the upside
potential, but this is Genting that we are talking now,
and I won't discount a surprise wild charge run by it
but 2.18 will be a worthy resistance for now.

I am still cautious at the moment and will sit-out
and watch for bargains and the still-green in such
a circumstance.

Enter any position with a Cut-loss level & Trailing Stop,
and Please practice strict (Risk)Money-management.
If you don't like what you see in the market,
simply don't trade.

P.S.: I was so bored with the market on Tuesday that I
switched on my TV to watch the Asian Game table-tennis
final between China and Singapore. To my disappointment,
Singapore lost the game, but it was the way that we lost that
triggered to do a write-up on CNA forum about the match.
Below is my write-up:

Tuesday, November 16, 2010

Wall Street closed mixed as "Stocks slipped on
Monday as concerns the Federal Reserve may
scale back its efforts to stimulate the economy
muted optimism over two big takeover bids.
The S&P 500 held above its 20-day moving average,
now near 1,196 and marking a potential support level,
though the index closed slightly lower."
Dow added 9 points, S&P 500 lost 1 points and
Nasdaq down 4 points.

Yesterday's market was "boring" as complained
by a handful of Skype readers, but it is in this
type of market that bargains are spotted and act upon.
I will share a trading tip today that will surely
be rewarding to the readers for many years to come
who understand the meaning behind it.
During a selldown or profit-taking or boring low volume
session, look out for stocks that still closed in the
green and with reasonable trading volume.
They will be the main attraction when the selling
is over or when their volume pick-up. While others
are in the red, they are in the green for a "reason",
such as fundamental news coming out soon, BBs
are still in the stock for the short-run, etc.
You will benefit if you truly understand and realise
the idea behind it.

Genting hit the major resistance level 2.18 as expected
but reverse down to close 2.09 As mentioned in yesterday
blog, it will now face resistance at 2.10 and 2.18 while
the support is at 2.04 and 1.97 Technically, the selling is
not over yet and may continue for the coming days.
Although I wish to see Genting below $2 again, but the
readers should note that this is a wild horse and it may
just spring up against all odds.

We will have a public holiday tomorrow and it is
likely we will have a cautious but firmer session today.
If you are not uncomfortable in taking positions in
such market sentiment today, then have a good break.

Enter any position with a Cut-loss level & Trailing Stop,
and Please practice strict (Risk)Money-management.
If you don't like what you see in the market,
simply don't trade.

P.S.: Last week, I received a very encouraging email from
a reader, Harry Cho. After seeking his permission in producing
the email in the blog, I am glad to put his email here.
It is such email that propel me to continue to blog and
feel appreciated, and knowing that I am not creating
cyber rubbish. Thank you, Harry.

"Hello SL

After following you for a week, I have come to realise you are no ordinary blogger. You are an extraordinary blogger.

To use an analogy, it seems like I had been running around for some time trying to learn karate from a good teacher and some years later, I bump into a gentleman who has a black belt in karate.

I wonder what was your initial motivation to start the blog but it looks lke it comes from a good heart.

A thousand thanks for your amazing posts and guidance,

Harry"

"Hello SL

It is a pleasant surprise to receive your request.

Certainly, please go ahead if you feel you would like to publish my email on your blog. If you would like to include my name, it is fine with me as well.

My email was written in honest appreciation, after a week-long, highly objective evaluation.

I gradually became filled with astonishment that a heavyweight is writing the blog. And it is both for the education and benefit of retail players, the so-called dumb money.

Monday, November 15, 2010

It was a pool of reds in our market last Friday
as profit-taking took centre-stage and sellings
can be seen in the blues and pennies.
Genting suffered the selling badly but it still
managed to hit a high of 2.17, that is 1 bid from
the major resistance level 2.18 It will have supporting
forces at 2.10 and 2.04

Last Friday, SSE crashed 5.2% and alll eyes will be
on whether the SSE will continue to slide down or
consolidate this week.

The plantation stocks have a great run lately but
to me their surge is not over as yet, but their upside
will be seriously tested at recent highs.
Watch for the O&M sector closely...

It is going to be cautious holiday-shorten trading
week, and it will be smart to take some money out
of recent winners. This is not to time to play
show-hand but a time to observe the bargains among
the hard-beaten stocks, and to move in when a
sector's stocks are moving, like Plantation, O&M...

Enter any position with a Cut-loss level & Trailing Stop,
and Please practice strict (Risk)Money-management.
If you don't like what you see in the market,
simply don't trade.

Chat with me

About Me

Audentes Fortuna Juvat!!!
危机就是转机!!!
I am a Stock Investor/Trader in Singapore
stock market, and I am also involve in some other money-making ventures and constantly looking
out for opportunities to make even more $$$.
You can contact me at stocklobang(at)yahoo.com